Portfolio Transition Analysis | Cadence Wealth Partners

Important: All positions in both accounts are short-term (held less than one year unless noted). Any gains realized will be taxed at ordinary income rates — not the preferential long-term capital gains rate of 0–20%. A small number of lots in Account 38919 are long-term and will receive preferential rates where applicable.

Portfolio Overview — Account 9252

Portfolio Value

$274,319

Taxable account

Total Embedded Gain

+$64,051

Source: custodian (unrealized)

Short-Term G/L

+$64,051

Gains $65,108 / Losses −$1,057

Long-Term G/L

None

All positions <1 year

Transition Summary

Positions Being Sold

Tax Event

Bond ETFs liquidated	11 positions
Total bond market value	$25,986
Net gain on bonds sold	+$493
Other equity positions sold	~40 tickers
Short-term gains realized	+$3,241
Short-term losses realized	−$627
Net short-term G/L	+$2,614

Positions Retained

No Tax Event

Equity positions kept	~185 tickers
Embedded gains staying put	+$56,849
Embedded losses staying put	−$614
Net untriggered embedded gain	+$56,235

Bond Allocation Eliminated (10% sleeve)

ETF	Description	Market Value	G / L	Term
VTEB	Vanguard Tax-Exempt Bond	$12,750	+$493	Short
AGG	iShares Core US Aggregate	$3,408	+$95	Short
BNDX	Vanguard Total Intl Bond	$5,736	−$69	Short
SCHP	Schwab TIPS ETF	$846	+$22	Short
BND	Vanguard Total Bond Market	$779	−$5	Short
JNK	SPDR High Yield Bond	$143	+$1	Short
MUB	iShares National Muni Bond	$173	−$1	Short
VWOB	Vanguard EM Govt Bond	$313	+$18	Short
SPIP	State Street TIPS ETF	$188	+$1	Short
Total bond sleeve liquidated		$25,336	+$555 net

Interactive Tax Estimator — Account 9252

Based on a net short-term gain of $2,614, select your federal tax bracket to see the estimated tax cost.

Federal Tax

~$836

32% ordinary income

NC State Tax

~$124

4.75% NC rate

Total Est. Tax

~$960

0.35% of portfolio

* Estimates based on net short-term gain of $2,614. NC flat income tax rate 4.75%. Please consult your tax professional for your specific situation.

Transaction Detail — Account 9252

Gains Realized

Losses Harvested

Bonds Removed

Ticker	Description	Market Value	Net Gain
NVDA	NVIDIA	$10,906	+$4,380
VEA	Vanguard Developed Markets	$79,519	+$22,064
SCHM	Schwab US Mid Cap ETF	$11,931	+$3,184
VWO	Vanguard Emerging Markets	$22,942	+$5,514
VTWO	Vanguard Russell 2000 ETF	$6,409	+$1,959
AAPL	Apple	$8,855	+$2,153
GOOG / GOOGL	Alphabet (both classes)	$8,299	+$4,187
AMZN	Amazon	$4,878	+$817
MSFT	Microsoft	$6,011	−$159
META	Meta Platforms	$3,109	+$409
JPM	JP Morgan Chase	$1,892	+$460
BRK B	Berkshire Hathaway	$1,629	−$26
LLY	Eli Lilly	$1,633	+$399
CASY	Casey's General Stores	$1,843	+$458
CAT	Caterpillar	$905	+$564
All other positions (150+)		~$90,000	+$12,000 est.

These losses offset gains, reducing your net taxable amount.

Ticker	Description	Market Value	Net Loss
MSFT	Microsoft	$6,011	−$159
HUBS	HubSpot	$271	−$61
BRK B	Berkshire Hathaway	$1,629	−$26
VRSK	Verisk Analytics	$176	−$28
BNDX	Vanguard Intl Bond (bond sleeve)	$5,736	−$69
WDAY	Workday	$525	−$84
VRTX	Vertex Pharmaceuticals	$240	−$21
TYL	Tyler Technologies	$376	−$40
NKE	Nike	$94	−$22
Other loss positions		~$5,000	−$117

ETF	Description	Market Value	G / L
VTEB	Vanguard Tax-Exempt Bond	$12,750	+$493
AGG	iShares Core US Aggregate	$3,408	+$95
BNDX	Vanguard Total Intl Bond	$5,736	−$69
SCHP	Schwab TIPS ETF	$846	+$22
BND	Vanguard Total Bond Market	$779	−$5
JNK	SPDR High Yield Bond	$143	+$1
MUB	iShares National Muni Bond	$173	−$1
VWOB	Vanguard EM Govt Bond	$313	+$18
SPIP	State Street TIPS	$188	+$1
Total bond sleeve		$25,336	+$555 net

Key Takeaways — Account 9252

What This Means for Account 9252

Only an estimated ~$2,614 in net gains are triggered by this transition — a fraction of the $64,051 total embedded gain confirmed by the custodian.

The vast majority of embedded gains — over $61,000 — remain untouched in retained positions and continue growing tax-deferred.

Estimated all-in tax cost is less than 0.35% of portfolio value — a modest one-time cost for a meaningful allocation shift.

All positions are confirmed short-term by the custodian, so waiting will not lower your tax rate unless held past the 1-year mark.

Portfolio Overview — Account 38919

Portfolio Value

$376,021

Taxable account

Total Embedded Gain

+$101,398

Source: custodian (unrealized)

Short-Term G/L

+$52,364

Gains $57,424 / Losses −$5,060

Long-Term G/L

+$49,034

Gains $49,214 / Losses −$180

Transition Summary

Positions Being Sold

Tax Event

Bond / fixed income positions sold	12 ETFs
Total bond market value	$30,487
Net gain/loss on bonds sold	−$12 net
Short-term gains on other sells	+$4,819
Short-term losses on other sells	−$1,892
Long-term gains (preferential rate)	+$14,153
Long-term losses	−$99
Net short-term G/L	+$2,915
Net long-term G/L	+$14,054

Positions Retained

No Tax Event

Equity positions kept	~200+ tickers
Large index ETFs retained (IVV, IVW, IVE, IJH, IJR, IEMG, SPDW)	$186,000+
Embedded gains staying put	+$116,265
Net untriggered embedded gain	+$116,265

Bond Allocation Eliminated (10% sleeve)

ETF	Description	Market Value	G / L	Term
VTEB	Vanguard Tax-Exempt Bond	$543	+$4	Short
AGG	iShares Core US Aggregate	$316	+$2	Mixed
BNDX	Vanguard Total Intl Bond	$863	−$16	Mixed
SCHP	Schwab TIPS ETF	$490	+$7	Short
BND	Vanguard Total Bond Market	$2,469	+$45	Short
MUB	iShares National Muni Bond	$9,730	+$335	Short
VWOB	Vanguard EM Govt Bond	$30	−$1	Mixed
IAGG	iShares Intl Aggregate	$4,482	−$13	Short
EMB	iShares EM Bond ETF	$121	+$8	Short
HYLB	Xtrackers USD High Yield	$307	+$10	Short
USHY	iShares Broad USD HY	$60	−$1	Mixed
Total bond sleeve liquidated		$19,411	+$380 net

Interactive Tax Estimator — Account 38919

This account has both short-term and long-term gains. Short-term gains ($2,915 net) are taxed at ordinary income rates. Long-term gains ($14,054 net) receive preferential rates. Select your brackets below.

Short-Term Bracket (ordinary income):

Long-Term Bracket (capital gains):

Federal Tax (ST)

~$933

32% on $2,915

Federal Tax (LT)

~$2,108

15% on $14,054

Total Est. Federal

~$3,041

+~$142 NC state

* NC state rate 4.75% applies to both ST and LT gains (NC does not have a separate capital gains rate), adding approximately $806 in state tax. Total combined federal + state estimate: ~$3,847. Please consult your tax professional for your specific situation.

Transaction Detail — Account 38919

ST Gains

LT Gains

Losses Harvested

Bonds Removed

Short-term positions being sold with gains — taxed at ordinary income rates.

Ticker	Description	Market Value	Net Gain
NVDA	NVIDIA	$11,482	+$4,391
LRCX	Lam Research	$1,630	+$1,166
TSLA	Tesla	$1,930	+$500
GE	GE Aerospace	$726	+$288
GOOG	Alphabet Class C	$4,408	+$2,121
GOOGL	Alphabet Class A	$4,258	+$2,098
ANET	Arista Networks	$324	+$157
XOM	Exxon Mobil	$2,253	+$706
AMD	Advanced Micro Devices	$1,064	+$628
WMB	Williams Companies	$729	+$152
EWBC	East West Bancorp	$397	+$139
WELL	Welltower	$348	+$102
JPM	JP Morgan Chase	$2,691	+$624
RTX	RTX Corporation	$933	+$327
All other ST gain positions		~$15,000	+est.

Long-term positions being sold — taxed at preferential capital gains rates (0%, 15%, or 20%).

Ticker	Purchase Date	Market Value	Net LT Gain
IVE (many lots)	2022–2025	$38,551	+$13,054
IVV (many lots)	2018–2025	$18,686	+$12,130
IVW (many lots)	2022–2025	$30,422	+$14,631
PIIVX	1/24/2023	$1,944	+$249
RCIIX	9/15/2023	$871	−$99
Other LT lots within short positions	Pre-4/2025	~$5,000	+$218 est.
Total long-term gains/losses		~$95,474	+$14,054 net

Note: IVE, IVV, and IVW have many individual tax lots with varying purchase dates. Lots purchased before April 8, 2025 qualify for long-term treatment. The figures above reflect the aggregate long-term portion.

Ticker	Description	Market Value	Net Loss	Term
UNH	UnitedHealth Group	$761	−$671	Short
BSX	Boston Scientific	$304	−$156	Short
ABT	Abbott Labs	$555	−$126	Short
AJG	Arthur J. Gallagher	$188	−$100	Short
FISV	Fiserv	$147	−$402	Short
PGR	Progressive	$353	−$147	Short
CRM	Salesforce	$377	−$163	Short
TMUS	T-Mobile	$397	−$133	Short
INTU	Intuit	$266	−$132	Short
MOH	Molina Healthcare	$48	−$65	Short
IT	Gartner	$57	−$99	Short
RCIIX	Private Shares Fund	$871	−$99	Long
Other loss positions		~$3,000	−$300 est.

ETF	Description	Market Value	G / L	Term
MUB	iShares National Muni Bond	$9,730	+$335	Short
IAGG	iShares Intl Aggregate	$4,482	−$13	Short
BND	Vanguard Total Bond Market	$2,469	+$45	Short
BNDX	Vanguard Total Intl Bond	$863	−$16	Mixed
VTEB	Vanguard Tax-Exempt Bond	$543	+$4	Short
SCHP	Schwab TIPS ETF	$490	+$7	Short
HYLB	Xtrackers USD High Yield	$307	+$10	Short
AGG	iShares Core US Aggregate	$316	+$2	Mixed
EMB	iShares EM Bond	$121	+$8	Short
USHY	iShares Broad USD HY	$60	−$1	Mixed
VWOB	Vanguard EM Govt Bond	$30	−$1	Mixed
Total bond sleeve		$19,411	+$380 net

Key Takeaways — Account 38919

What This Means for Account 38919

The custodian confirms $49,034 in long-term gains in this account — positions like IVE, IVV, and IVW held since 2018–2022 qualify for preferential capital gains rates of 0%, 15%, or 20%.

Short-term embedded gains total $52,364 — only a portion of this is triggered. The large index ETF positions (SPDW, IEMG, IJH, IJR) are retained, protecting the majority from a tax event.

Estimated short-term triggered gains are ~$2,915 and long-term triggered gains are ~$14,054 — together representing a small fraction of the $101,398 total embedded gain.

Significant loss harvesting opportunities exist — positions like FISV, CRM, UNH, and BSX carry meaningful losses that offset a portion of gains.

NC taxes both short-term and long-term gains at the same 4.75% flat rate — no state-level preference for long-term gains.

Total combined federal + state estimate for this account ranges from $3,600–$4,700 depending on your tax brackets.

Tax Impact: 90/10 → 100/0 Allocation Transition

Positions Being Sold

Positions Retained

What This Means for Account 9252

Positions Being Sold

Positions Retained

What This Means for Account 38919